PMI Mortgage Insurance Co. Rates San Antonio A Low Risk Market
July 4, 2008
The PMI U.S. Market Risk Index is based on data including the OFHEO House Price Index, labor market statistics from the Bureau of Labor Statistics, and the PMI Affordability Index, which uses local per capita household income, home price appreciation, and a blended mortgage rate to calculate the local share of mortgage payment to income relative to its baseline year of 1995. The PMI U.S. Market Risk Index scale ranges from one to 100 and translates to a percentage. For example, a score of 50 indicates a 50 percent chance that home prices will be lower in two years.
MSN’s Most Affordable Housing Markets
July 3, 2008
MSN has published it’s list of the what it’s calling the nine most affordable housing markets and has San Antonio at No. 5.
1. Wichita, Kan.
2. Omaha, Neb. — Council Bluffs, Iowa
3. Harrisburg-Carlisle, Pa.
4. Madison, Wis.
5. San Antonio
6. Indianapolis
7. Pittsburgh
8. Dallas-Fort Worth
9. Tulsa, Okla.
To develop the 2008 MSN Real Estate Most-Livable Bargain Markets list, we asked Bert Sperling of Sperling’s Best Places to evaluate the most affordable housing markets from the 100 largest U.S. metro areas and pinpoint the nine most livable areas: places where unemployment is low, commute times are short and there’s enough interesting entertainment or recreation to keep most people busy. We defined affordability by the ratio of median income to median home price.
HUD Makes Changes to the FHA Program
July 2, 2008
The U.S. Department of Housing and Urban Development recently made several changes to the Federal Housing Administration loan program to assist consumers. These changes are designed to expand FHA financing opportunities for borrowers while guarding against overextending the program.
A. Waiver of Anti-Flipping Regulations – For a period of one year beginning June 9, 2008, HUD will insure FHA loans secured by property acquired by lenders through foreclosure, without regard to whether the lender is a state- or federally-chartered institution.
San Antonio FEMA Flood Plain Map Appeal Period Ends August 6th
July 1, 2008
San Antonio River Authority (SARA), as part of the Bexar Regional Watershed Management (BRWM) partnership, received confirmation from the Federal Emergency Management Agency (FEMA) that the beginning of the anticipated 90-day appeal period of updated Digital Flood Insurance Rate Maps (DFIRMs) will begin on May 9, 2008. It is during this time that all protest and appeal forms and any necessary supporting data will need to be mailed to SARA to be acknowledged as received and identified on the appropriate DFIRMs.
